History
The company was founded in Bombay (now Mumbai) in 1976 by Anil Agarwal, as a scrap-metal dealership.[9] In 1979, he acquired the Shamsher Sterling Corporation (subsequently renamed Sterlite Industries), a manufacturer of power and control cables.[10]
The company acquired a majority stake in Balco, the Indian state aluminium business, in 2001.[11] It was first listed on the London Stock Exchange in 2003 when, as Vedanta Resources, it raised US$876 million through an initial public offering.[12]
In 2006, Vedanta acquired Sterlite Gold, a gold mining business,[13] and in 2007, Vedanta Resources bought a 51% stake in Sesa Goa, India's largest producer-exporter of iron ore, and the company became listed on NYSE with a US$2 billion ADS issue.[14][15]
In 2008, Vedanta bought certain of the assets of Asarco, a copper mining business, out of Chapter 11 for US$2.6 billion.[16] and in 2010, it acquired Anglo-American's portfolio of Zinc assets in South Africa, Namibia and Ireland.[17]
In 2011, Vedanta acquired 58.5% controlling stake in Cairn India, India's largest private sector oil and gas company[18][19] and in 2013, Sterlite Industries and Sesa Goa announced a merger. The merger took place in August 2013 and the consolidated group was then called Sesa Sterlite Ltd (now Vedanta Limited).[20] In June 2018, Vedanta acquired 90% stake in Electrosteel Steels, a steel producer.[21]
In September 2018, the company announced that Anil Agarwal would be taking Vedanta Resources private on 1 October 2018.[22]
In September 2025, the Vedanta Project in Odisha halted over tribal rights violation claims.[23]
